Mei 6, 2020 (Thomson StreetEvents) -- Hoʻoponopono ʻia ʻo Transcript of Westrock Co loaʻa i ka hālāwai kūkā a i ʻole hōʻike ʻana i ka Pōʻalua, Mei 5, 2020 ma 12:30:00pm GMT
E nā lede a me nā keonimana, mahalo iā ʻoukou no ke kū ʻana mai, a hoʻokipa ʻia i ke Kāhea Kūkākūkā o ka Hui ʻO WestRock Company's Second Quarter Fiscal 2020 Results Conference Call.(Nā kuhikuhi o ka mea hoʻohana)
Makemake au e hāʻawi i ka ʻaha kūkā i kāu haʻiʻōlelo i kēia lā, Mr. James Armstrong, VP of Investor Relations.Mahalo iā ʻoe.E ʻoluʻolu e hele i mua.
Mahalo iā ʻoe, e ka mea hoʻohana.Aloha kakahiaka, a mahalo no kou komo ʻana i kā mākou Fiscal Second Quarter 2020 Earnings Call.Ua hoʻopuka mākou i kā mākou hoʻokuʻu paʻi i kēia kakahiaka a hoʻopuka i ka hōʻike slide e pili pū ana i ka ʻāpana Investor Relations o kā mākou pūnaewele.Hiki ke loaʻa iā lākou ma ir.westrock.com a i ʻole ma o ka loulou ma ka palapala noi āu e hoʻohana nei e nānā i kēia hoʻolaha pūnaewele.
Me aʻu ma ke kelepona ʻana i kēia lā, ʻo ka Luna Nui o WestRock, ʻo Steve Voorhees;ko makou Luna Nui Waiwai, Ward Dickson;ko mākou Luna Nui a me ka Pelekikena o Corrugated Packaging, Jeff Chalovich;a me kā mākou Luna Nui Hou a me ka Pelekikena o ka Consumer Packaging, ʻo Pat Lindner.Ma hope o kā mākou mau ʻōlelo i hoʻomākaukau ʻia, e wehe mākou i ke kāhea no kahi hālāwai nīnau-a-pane.
I ka wā o ke kelepona ʻana i kēia lā, e hana mākou i nā ʻōlelo e pili ana i kā mākou hoʻolālā, manaʻolana, manaʻo a me nā manaʻoʻiʻo e pili ana i nā hanana e hiki mai ana.Hiki i kēia mau ʻōlelo ke komo i kekahi mau pilikia a me ka maopopo ʻole e hiki ke hoʻokaʻawale i nā hopena maoli mai nā mea a mākou i kūkākūkā ai i ka wā kelepona.Hōʻike mākou i kēia mau pilikia a me ka maopopo ʻole i kā mākou waihona me ka SEC, me kā mākou 10-K no ka makahiki kālā i pau i ka lā 30 Kepakemapa 2019.
Eia kekahi, e hana mākou i nā ʻōlelo e pili ana i ka hopena o ka maʻi maʻi COVID-19 i kā mākou hana a me ka hana kālā.ʻO ka nui o kēia mau hopena, me ka lōʻihi, ka laulā a me ka paʻakikī o ka maʻi maʻi, ʻaʻole maopopo loa a ʻaʻole hiki ke wānana me ka hilinaʻi i kēia manawa.E kuhikuhi pū mākou i nā ana kālā non-GAAP i ka wā kelepona.Ua hoʻolako mākou i ka hoʻoponopono ʻana i kēia mau ana non-GAAP i nā ana GAAP i hoʻohālikelike pololei ʻia ma ka appendix o ka hōʻike slide.E like me ka mea i ʻōlelo ʻia ma mua, loaʻa ka hōʻike slide ma kā mākou pūnaewele.
ʻAe.Mahalo, James.Mahalo iā ʻoukou i kelepona mai e hui pū me kā mākou kelepona i kēia kakahiaka.He nui kā mākou e uhi ai.
E hoʻomaka wau ma ka hoʻomaikaʻi ʻana i ka hui WestRock kupaianaha no nā mea āpau a lākou e hana nei e kōkua i ka hoʻopili ʻana i nā huahana pono i nā poʻe a puni ka honua.ʻO ka hui WestRock, i kākoʻo ʻia e ka nui a me nā hiki ākea o kā mākou wili a me ka hoʻololi ʻana i ka ʻoihana i pane me ka wiwo ʻole e kōkua i kā mākou mea kūʻai aku e hoʻokō i nā kūlana mākeke i hoʻokumu ʻia e ka maʻi maʻi.
Ua loaʻa iā mākou nā hopena kālā paʻa i ka hapaha, me ka ʻāpana hoʻololi EBITDA o $708 miliona.Aia kēia ma ke kiʻekiʻe o ke alakaʻi a mākou i hāʻawi ai i ka hapaha hope.Ke hoʻokō nei mākou i kā mākou hoʻolālā ʻokoʻa mai kahi kūlana o ka ikaika kālā a me ka waiwai nui.
Ua hoʻopilikia ka maʻi maʻi COVID-19 i nā mākeke honua, ua hoʻoulu i ka volatility ʻaʻole i ʻike ʻia ma mua a ua uhi i ka ʻike waiwai.E kūʻē i kēia ʻano a me ka mahalo i ka hana a ka hui WestRock, ua hoʻomau ka hui i ka hāʻawi ʻana ma ke ʻano he ʻāpana koʻikoʻi o ke kaulahao lako honua, e kākoʻo ana i kā mākou mea kūʻai aku me kahi kōpili o nā huahana a me nā hoʻonā a me ka pae honua e pono ai lākou e kiʻi i kā lākou huahana. nā mea kūʻai e pono ai lākou.
Ua hoʻopau ka maʻi maʻi i nā ʻano koi ma waena o kā mākou ʻoihana, a ʻoiai ʻo kekahi mau mākeke, ʻo ia hoʻi, e-commerce, ua ikaika loa, ʻo nā mea ʻē aʻe, me nā mākeke ʻoihana, ua ʻike i nā hopena maikaʻi ʻole.Ke hoʻomau nei mākou i ka manaʻoʻiʻo ʻaʻole i hoʻololi ʻia kā mākou mea hoʻokele lōʻihi o ka ulu ʻana, ʻo WestRock e noho maikaʻi ana me ka hoʻolālā kūpono e kūleʻa a hoʻokumu i ka waiwai no kā mākou poʻe kuleana āpau.
I ka ʻōlelo ʻana i kēlā, ua palupalu ka manaʻo hoʻokele waiwai honua i ka wā kokoke.No laila, ke hoʻokō nei mākou i kahi hoʻolālā hana e hana ai mākou i nā hana naʻauao a kūpono hoʻi no ka hoʻomākaukau ʻana no nā ʻano kūlana waiwai a me ka mākeke.Kūleʻa mākou i ka hoʻokō ʻana i nā pono o kā mākou mea kūʻai aku, kākoʻo i ke olakino, palekana a me ka maikaʻi o kā mākou mau hoa hui a kūkulu hou aku ma luna o kā mākou kumu o ka ikaika kālā.
Eia nā mea nui o kā mākou papahana hana maʻi maʻi.Ua hoʻonohonoho mākou i nā hana palekana i hoʻonui ʻia ma waena o kā mākou hui, me ka hele ʻana i ka nohona, ka hoʻomaʻemaʻe hohonu, ka uhi maka, ka nānā ʻana i ka mahana a me nā hana ʻē aʻe e kōkua i ka mālama ʻana i kā mākou mau hoa hui i ka palekana a me ke olakino.Ua hana maikaʻi kā mākou hui i kēia manawa.A i loko o kēia hapaha, hāʻawi mākou i nā makana hoʻokahi manawa i kā mākou mau hoa hana hana a me nā hana.
E hoʻomau mākou i ka hoʻohālikelike ʻana i kā mākou lako me ka koi o nā mea kūʻai aku, me ka hoʻemi ʻana i nā neʻe i nā mea kanu inā pono a me ka lawe ʻana i ka manawa ma kā mākou mīkini pepa e lawelawe ana i nā mākeke me ka hoʻemi ʻia o ka noi.Ma ka manawa like, e hoʻohana mākou i nā manawa kūpono kahi e hōʻike ai lākou iā lākou iho, me ka hoʻohana ʻana i ka nui a me nā hiki o kā mākou ʻōnaehana e lawelawe nei i nā mākeke ulu, me ka e-commerce a me ka pane ʻana i nā piʻi o ka noi.
Ke hoʻokō nei mākou i ka hoʻemi ʻana i nā kumukūʻai hana no ka wā kokoke e alakaʻi ʻia e ka uku a me ka hoʻohaʻahaʻa ʻana a hiki i ka 25% no kā mākou hui hoʻokō kiʻekiʻe a me kā mākou Papa Hoʻokele a me ka hoʻemi ʻana i nā lilo hoʻoholo.Hoʻolālā mākou e hoʻohana i ka waiwai o kā mākou hui e uku i kā mākou mau mea hoʻoikaika makahiki a hāʻawi i kā mākou hui i nā haʻawina 401 (k) i 2020. E hāʻawi kēia i ke kālā hou i loaʻa no ka hōʻemi ʻana i ka aie me ka hoʻohālikelike ʻana i nā mea hoʻoikaika o ka hui hoʻokele a me nā hoa hui ma nā pae āpau. ka hui me kā mākou mau mea hoʻopukapuka.
Ke hōʻemi nei mākou i kā mākou hoʻopukapuka kālā ma $ 150 miliona i kēia makahiki a e hoʻolilo mākou i $ 600 miliona a i $ 800 miliona i ka makahiki kālā 2021. Ma kēia pae, e hoʻopau mākou i nā papahana ʻoihana hoʻolālā a mākou e hana nei, mālama i kā mākou ʻōnaehana a hana i nā hoʻopukapuka kālā e pono ai. hoʻomaikaʻi i ka huahana a hoʻolako i kā mākou mau mākeke ulu.
A ʻo ka mea hope loa, ke hoʻihoʻi nei mākou i kā mākou ʻāpana hapaha makahiki i $0.20 no ka uku makahiki he $0.80 no kēlā me kēia.He hana naʻauao kēia e hana ai i loko o kahi kaiapuni maopopo ʻole e hāʻawi i nā ʻāpana koʻikoʻi, hoʻomau a hoʻokūkū hoʻi no nā mea kūʻai waiwai o WestRock aʻo ka hoʻokaʻawale ʻana i $275 miliona i kēlā me kēia makahiki no ka hōʻemi ʻana i ka aie.E pōmaikaʻi kēia i kā mākou mea kūʻai ma ka hōʻemi ʻana i ka leverage, ka hoʻonui ʻana i ka wai a me ka hoʻomau ʻana i ko mākou komo ʻana i nā mākeke kālā hōʻaiʻē lōʻihi.
Ke ulu nei ke kūlana me COVID-19, e loiloi hou mākou i kā mākou mahele a nānā i ka ulu ʻana i kā mākou mahele i ka wā e hiki mai ana ke hoʻi nā mākeke i ka maʻamau.ʻO kēia hui pū ʻana o nā hana e hiki ai iā mākou ke hoʻololi koke i nā loli i nā kūlana mākeke, a ke manaʻo nei mākou e hāʻawi i kahi kālā hou he $1 biliona i loaʻa no ka hōʻemi ʻana i ka aie a hiki i ka hopena o ke kālā '21.E hoʻomau kēia i kā mākou ʻoihana ma lalo o ke ʻano o ka hoʻokele waiwai a me ka mākeke a hōʻoia i ka noho maikaʻi ʻana o WestRock no ka kūleʻa lōʻihi.
ʻO ka pane a WestRock i ka maʻi maʻi a hiki i kēia lā a me ko mākou hiki ke kūleʻa i ka holomua e pili ana i ka hana paʻakikī a me ka hoʻolaʻa ʻana o ka hui WestRock, ka mea i piʻi i luna e hoʻomau i kā mākou mau hana a kōkua i kā mākou mea kūʻai.E hoʻomau mākou i ke kākoʻo i kā mākou hoa hui, ko lākou ʻohana a me nā kaiāulu kahi a mākou e hana ai.ʻOiai ʻaʻole maopopo ka manaʻo o ka wā kokoke, loaʻa iā mākou ka hoʻolālā kūpono a me ka hui kūpono i kahi e hoʻokele ai i kēia kaiapuni a e puka i kahi ʻoihana ʻoi aku ka ikaika.
Ma waho aʻe o nā kaʻina hana palekana i hoʻopaʻa ʻia a hoʻonui ʻia a mākou i hoʻokō ai i kā mākou hui, ke hana ʻokoʻa nei mākou ma mua o 2 mau mahina i hala.Inā mākou e hana ana ma kahi keʻena hana a i ʻole ma ka home, ke hui pinepine nei mākou ma mua o ka wā ma mua e ʻike a hoʻoponopono i nā pilikia hoʻololi wikiwiki i ka wā e kū mai ai.Ke kākoʻo nei kēia i kā mākou hoʻoikaika ʻana e hoʻololi koke i nā pono loli o kā mākou mea kūʻai.
A ua piʻi mākou i luna no ko mākou mau kaiāulu, me ka hui pū ʻana me kā mākou mea kūʻai aku a me ka Georgia Center for Medical Innovation e hāʻawi i ke kākoʻo hana no nā pale pale maka he 200,000.Hāʻawi mākou i nā pahu ʻahuʻula a me nā ipu lawelawe meaʻai i nā waihona meaʻai, a no ka hāʻawi ʻana aku i nā meaʻai aloha ma nā kaiāulu he nui.
E huli kākou i kā mākou hana no ka hapaha kālā ʻelua.Ua loaʻa iā mākou nā kūʻai kūʻai ʻupena o $ 4.4 biliona me ka ʻāpana hoʻololi EBITDA o $708 miliona, nā loaʻa i hoʻololi ʻia i kēlā me kēia mahele o $0.67.I ka makahiki i hala iho nei, ua hoʻonui mākou i kā mākou hoʻolālā ʻokoʻa me ka ulu ikaika ʻana ma o ka hoʻohui ʻana i 380 mau mīkini pani hou.Ua hoʻohui mākou i nā mea kūʻai aku he 20 i nā mahina he 12 i hala.Ke kūʻai aku nei nā mea kūʻai aku i $ 7.5 biliona ma mua o $ 6 biliona i hoʻokahi makahiki i hala, he 25% hoʻonui.
Ma ke ʻano holoʻokoʻa, loaʻa iā mākou ka maʻalahi kālā me ka ʻoi aku ma mua o $ 2.5 biliona o ka wai i hoʻopaʻa ʻia i ka wā lōʻihi, me ka ʻoi aku o $ 600 miliona o ke kālā.He palena palena ʻaiʻē mākou a hiki i Malaki o 2022, a ʻo kā mākou hoʻolālā penikala kūpono ʻo US he 102% kālā.
I ka hapaha, ua ʻike mākou i ka ikaika i nā kahawai e-commerce a me ka protein, ka meaʻai i hoʻoponopono ʻia, ka mahiʻai, ka mālama olakino a me nā ʻāpana mākeke inu.ʻO nā ʻāpana mākeke ʻē aʻe, ʻo ia hoʻi nā waiwai waiwai a me nā huahana ʻoihana, palupalu ma muli o ka hopena o COVID-19.
Hōʻike kā mākou mau hopena i ka hapaha ʻelua i ka nui o ka lawe ʻana aku a me nā pahu pahu pahu kūloko a me nā hoʻouna pahu.Hōʻike ka ʻokoʻa o ke kumu kūʻai/hui i ka emi ʻana o ke kumukūʻai i paʻi ʻia ma mua a me ka emi ʻana o ka mākeke makahiki ma mua o ka hoʻokuʻu ʻana aku a me ka pahu pahu kūloko, pulp a me ke kumu kūʻai pepa kraft.
Hāʻawi ʻo Corrugated Packaging i nā hopena paʻa i ka hapaha, me ka ʻāpana hoʻololi EBITDA o $ 502 miliona a me nā ʻāpana hoʻololi EBITDA o 18%.ʻO ʻAmelika ʻAmelika i hoʻoponopono ʻia ʻo EBITDA margin he 19%, a ʻo Brazil i hoʻoponopono ʻia ʻo EBITDA margin he 28%.
I loko o ka hapahā, ʻoi aku ka nui o ka hana ʻoihana me nā puke kiʻekiʻe, ʻoi aku ka ikaika o ka huahana a me ka hoʻohaumia ʻana e ka emi ʻana o ke kumu kūʻai.ʻO ke kūʻai ikaika ʻana i ka e-commerce, nā meaʻai i hana ʻia a me nā huahana kūʻai aku e like me ka hoʻomaʻemaʻe ʻana i nā huahana, nā huahana pepa a me nā diapers i hoʻopau ʻia i ka hapa ʻelua o Malaki ma o ka hoʻemi nui ʻana i kā mākou ʻāpana hoʻohana hope o ka hāʻawi ʻana a me ka pepa, nā huahana ʻoihana a me ka lawelawe meaʻai a me ka pahu Pizza.
Ua hoʻomau ʻia kēia ʻano a hiki i ʻApelila, me ka ʻoi aku o 130 o kā mākou mea kūʻai aku e hōʻike ana i ka pani ʻana o nā mea kanu.ʻO ia ka 130 o kā mākou mea kūʻai aku e hōʻike ana i ka pani ʻana i nā mea kanu no ka manawa lōʻihi a hoʻemi ʻia nā loli e pili ana i nā hopena o ka coronavirus.ʻO nā ʻāpana e like me ka protein a me nā meaʻai i hoʻomaʻamaʻa ʻia e pilikia ana i ka manawa ma muli o ka hopena o ka coronavirus ma kā lākou limahana.
Ua hoʻonui ʻia nā hoʻouna pahu i ka hapaha i ka 1.3% ma ke kumu kūʻokoʻa, me ka hoʻonui ʻana o nā hoʻouna i ka hopena o ka hapaha i ka wā i hoʻomaka ai nā mea kūʻai aku e pale i ka home.Ua hoʻopilikia maikaʻi ʻia kā mākou mau pahu pahu e ka pani ʻana o nā mea kanu pahu 5 i ka makahiki i hala a me ka hoʻemi ʻana i ka noi mai nā ʻāpana ʻoihana, hoʻolaha a me nā mākeke pizza, a me nā kūʻai haʻahaʻa o nā pepa haʻahaʻa haʻahaʻa i nā mea hoʻololi ʻekolu.ʻO ka hopena kumulative o kēia mau mea i hōʻemi i kā mākou kūʻai pahu e 2.7% i hoʻohālikelike ʻia i ka makahiki i hala.
Akā, e kau kākou i kēia ma ke ʻano.I nā makahiki 3 i hala iho nei, ua lanakila nui mākou i ka hoʻonui ʻana i kā mākou ʻoihana pahu.ʻO ka ʻoiaʻiʻo, ʻo kā mākou pahu hoʻouna ʻana i ka ulu organik i kēia manawa ma kahi o 10%, aneane ʻelua ʻelua o ka ulu ʻana o ka ʻoihana o 5.5%.Ke hoʻomau nei kā mākou ʻoihana pāʻoihana i kā mākou mea kūʻai aku e hana maikaʻi no ka hoʻokō wikiwiki ʻana i nā pono o ka mea kūʻai aku.
ʻO ka ikaika o kā mākou ʻoihana preprint ua hiki iā mākou ke wehe i kahi wahi hou ma Las Vegas e hoʻokō i kā mākou koi ulu no nā kiʻi a hoʻolako i kā mākou kapuaʻi i hoʻonui ʻia me ka hoʻohui ʻana o ka ʻōnaehana KapStone.Ke hoʻonui nei mākou i kā mākou hale paʻi paʻi Jacksonville e hoʻohui i kahi paʻi holo mau e hāʻawi i ka hiki ke hoʻonui a hoʻemi i ke kumukūʻai.
Ua hoʻonui ko mākou kūʻai ʻana i ka pahu pahu pahu kūloko a me waho i ka hui ʻana he 112,000 tons i ka hapaha i hoʻohālikelike ʻia i ka makahiki i hala.ʻO 30,000 tons o ka hoʻonui i hele mai mai kā mākou mau laina keʻokeʻo kiʻekiʻe.Ke hoʻomau nei kā mākou papahana hoʻolālā a me ka hoʻohui ʻana o KapStone.Ua hoʻopau mākou i ka hapaha me ka helu holo makahiki o $125 miliona i nā synergies mai KapStone.Ua holomua nui kā mākou hui i ka hoʻonohonoho hou ʻana i ka wili ʻo North Charleston ma hope o ka pani mau ʻana o ka mīkini pepa #2.Ua hāʻawi hou ʻia ka hui ʻoihana kūikawā o ka wili ma nā hana i koe, nāna i hoʻomaikaʻi i kā mākou hana ʻana a hāʻawi i nā kumukūʻai kūpono.Manaʻo mākou e hiki i kā mākou uku hoʻolālā i hoʻolālā ʻia a me ka mālama kālā ma ka hopena o ka makahiki alemanaka.
ʻO ka hōʻuluʻulu ʻana, ke hoʻokō maikaʻi loa nei ka hui puʻupuʻu corrugated o WestRock i kēia kaiapuni, i kākoʻo ʻia e kā mākou ʻōnaehana pahu pahu i hoʻopukapuka maikaʻi ʻia a me kā mākou ʻōnaehana wili me ka uhi ʻāina koʻikoʻi a me nā hiki ke hana i ka laulā ākea o ka pahu pahu a me nā māka pepa kraft i ka ʻoihana.
E huli i kā mākou ʻāpana Consumer Packaging, kahi i hoʻohālikelike ʻia nā hopena i kēlā me kēia makahiki me ka ʻāpana hoʻololi EBITDA o $222 miliona i loko o kahi kaiapuni nui loa.I ka hapaha, ua hana maikaʻi kā mākou ʻoihana meaʻai, lawelawe meaʻai, mea inu a me nā ʻoihana mālama olakino ma luna o ka hui kumukūʻai kiʻekiʻe a me nā pōmaikaʻi mai nā hana hoʻololi plastik.
ʻO kā mākou manaʻo waiwai ʻokoʻa e hoʻohana i ka hoʻolālā, ʻepekema waiwai a me nā mīkini hoʻomau e hāʻawi i ka waiwai no kā mākou mea kūʻai.Ua hoʻopau ʻia kēia ʻaoʻao e ka emi ʻana o ka noi i ka nani, nā mea hoʻonaninani a me nā ʻuhane kiʻekiʻe.ʻO ka noi haʻahaʻa haʻahaʻa pāʻoihana ma Malaki ua kōkua mākou i ka lawe ʻana i 13,000 tons o ka hoʻokele waiwai i ka hapaha a me 14,000 tons i ʻApelila ma kā mākou ʻōnaehana SBS.Noho paʻa nā backlogs CRB a me CNK ma 3 a me 5 mau pule.
Ke komo nei ka Consumer Packaging ma kahi ākea o nā mākeke hopena.ʻIke mākou i ka ʻoihana ma o ka lens o 4 mau ʻāpana koʻikoʻi: ʻO ka mea mua, ʻo ka ʻoihana meaʻai, lawelawe meaʻai a me nā ʻoihana inu e pili ana i 57% o kā mākou māhele kūʻai.Ua lanakila mākou me kā mākou mau mea kūʻai aku me kā mākou mau makana ʻokoʻa ʻokoʻa, hoʻohui pū ʻia ka pahu pahu pahu a me kā mākou piha piha o ka pepa substrate kūʻai aku i nā mea hoʻololi kūʻokoʻa.Hāʻawi kēia mau ʻoihana i ka ulu a me ka waiwai ma o ka hana hou, nā huahana like ʻole, nā mīkini a me nā lawelawe mea kūʻai aku;ʻO ka lua, ʻo kā mākou ʻoihana hoʻopihapiha kūikawā e pili ana i ka 28% o kā mākou kūʻai ʻāpana.ʻO kā mākou waiwai i hoʻohui ʻia i loko o ka ʻeke kūikawā ua kaupaona ʻia i ka ʻaoʻao hoʻololi o ka ʻoihana.Ua ikaika loa ka ʻoihana mālama ola a kākoʻo ʻia e kā mākou hāʻawi ʻana i nā pahu pahu, nā lepili a me nā mea hoʻokomo.ʻOiai ua hui pū ʻia ka hana ʻana o kā mākou mau makana kūikawā no nā mea kūʻai aku, nā kāleka uku a me nā media, e ulu ana kekahi, e emi ana kekahi i ka manawa;ʻO ke kolu o ka ʻāpana he pepa SBS kūikawā no ka paka, ka paʻi pāʻoihana a me ka ʻeke wai.Aia kēia ma kahi o 13% o kā mākou māhele kūʻai.Ua hoʻohālikelike ʻia kēia ʻāpana i nā makahiki i hala iho nei ma muli o ka emi ʻana o ka nui o ka honua i ka paʻi pāʻoihana a me ka paka, kahi e hāʻawi ai i ka pōʻaiapili, ua hōʻole ʻoi aku ma mua o 20% mai ka '16 kālā;ʻo ka hā, hoʻohana mākou i ka pulp e kaulike i kā mākou ʻōnaehana.ʻO ka emi ʻana o ke kumukūʻai pulp hou ua hoʻohaʻahaʻa i ka loaʻa kālā ma kahi o $28 miliona makahiki a hiki i kēia lā a me $12 miliona i ka hapaha e like me ka makahiki i hala.
Ke ʻike nei mākou i nā manawa kūpono e ulu ai me ka hoʻohana ʻana i kā mākou ʻepekema waiwai, hana hou, hāʻawi mīkini a me ke ala kalepa me kā mākou mea kūʻai.Ua hoʻolilo mākou i kā mākou waiwai hoʻololi, a ua hoʻokomo mākou i kā mākou ʻōnaehana wili ma Mahrt, Covington a me Demopolis e hoʻomaikaʻi i kā mākou kumu kūʻai a me ka maikaʻi o ka huahana.Ma Covington, ke hana nei mākou i ka SBS haʻahaʻa haʻahaʻa loa ma ka honua no ka peʻe pahu pahu a me nā noi ʻē aʻe.
No laila ʻoiai ʻo ka nui o nā ʻāpana o kā mākou ʻoihana Consumer Packaging e hoʻomaikaʻi a maikaʻi hoʻi e hoʻomau i ka hoʻomaikaʻi ʻana i ka wā lōʻihi, ua hoʻopau ʻia kēia mau hoʻomaikaʻi ʻana e ka hana o kā mākou ʻāpana kūʻai haʻahaʻa haʻahaʻa a me ka emi ʻana o ka mākeke hopena.Ke hoʻomau nei mākou i ka hoʻoikaika ʻana i ka hana lōʻihi o kēia ʻoihana.
Ua kūlana maikaʻi ʻo WestRock no ka hoʻokele ʻana i ke ʻano hoʻokele waiwai o kēia manawa.Loaʻa iā mākou ka hiki ke lawelawe i kahi ākea o nā ʻāpana mākeke hopena, loaʻa iā mākou ka maʻalahi ma waena o kā mākou kaulahao lako, me ka hiki ke hoʻohana i ka fiber puʻupaʻa a me recycled.Hāʻawi kā mākou pae honua i ka redundancy a me ka versatility i kēia mākeke loli wikiwiki.
Ke hoʻololi koke nei ka makemake o ka mākeke.Hāʻawi ka Slide 11 i kahi hiʻohiʻona o nā kūlana o kēia manawa i kā mākou mākeke.E like me ka mea i hōʻike mua ʻia, ikaika loa ka koi i nā kahawai e-commerce.Manaʻo mākou e ulu mau ana kēia.Ua ikaika nā mākeke meaʻai i hana ʻia a kūʻai aku, nā mea inu a me nā ʻeke wai i ka mahina ʻo Malaki i ka noho ʻana o nā mea kūʻai aku ma kahi a hana mai ka home.
Ua hoʻololi ʻia nā mākeke protein mai ka maikaʻi a maikaʻi ʻole i nā pule i hala aku nei no ka mea ua manaʻo nā hui hoʻoponopono protein i ka hopena mai COVID-19.Ua hoʻopilikia maikaʻi ʻia ka noi o nā mea kūʻai aku ʻoihana a me ka hāʻawi ʻana e nā pani ʻana, a ke hoʻomau nei nā mākeke ʻē aʻe e like me ka lawelawe meaʻai a me ka paʻi pāʻoihana i kā lākou kumu o ka emi ʻana o ka mākeke hope mai ka hapaha mua.
Mai kahi a mākou e kū nei i kēia lā, paʻakikī ke wānana i ke ʻano o nā ʻano kuʻuna, a ʻo ia ka mea e mau.ʻO ka mea pōmaikaʻi, ʻo kā mākou waihona like ʻole o ka pepa a me nā huahana paʻi e hoʻonoho maikaʻi iā mākou e hoʻololi a hoʻokō i nā pono loli o kā mākou mea kūʻai aku ma kahi ʻāpana ākea o ka hoʻokele waiwai.ʻOiai ʻaʻole maopopo ka manaʻo, ua lawe mākou a ke mākaukau nei mākou e hana i nā hana e hoʻokele i nā kūlana mākeke i ko lākou ulu ʻana.
Mahalo iā ʻoe, Steve.Ma waho aʻe o ko mākou hiki ke loaʻa kālā mai kā mākou ʻoihana, ʻo ka hoʻokele ikaika ʻana i kā mākou mau ʻaiʻē a me ka mālama ʻana i nā pae koʻikoʻi o ka wai ka mea nui o ke kahua kālā ikaika o WestRock.I ka makahiki fiscal 2019, ua hoʻonui mākou i ka nui o ka ʻoi aku ma mua o $ 3 biliona o nā hale hōʻaiʻē i hoʻopaʻa ʻia a ʻoi aku ma mua o $ 2 biliona i nā hōʻaiʻē wā panakō.
Eia kekahi, i ka makahiki i hala, ua hoʻolimalima hou mākou i $ 350 miliona i loko o nā paʻa i hoʻopaʻa ʻia ma Malaki o 2020. Ua kaupalena ʻia mākou i ka wā o ka hoʻopaʻa ʻana a hiki i Malaki o 2022, me $ 100 miliona wale nō e uku ʻia ma Iune o kēia makahiki.I ka hopena o Malaki, ua loaʻa iā mākou ma mua o $ 2.5 biliona o ka hoʻokō waiwai lōʻihi, me ka $ 640 miliona i ke kālā.Ma ka maʻamau, hoʻopuka mākou i nā kahe kālā ikaika i ka hapa lua o kā mākou makahiki kālā.I ko mākou pani ʻana i ʻApelila, hiki iā mākou ke hōʻemi i ka hōʻaiʻē ma kahi o $145 miliona.Me kēia hōʻemi ʻaiʻē i ʻApelila, kā mākou kūpaʻa - ʻo kā mākou kālā i kēia manawa a me ke kālā he $2.7 biliona.
Loaʻa iā mākou kahi cushion ma luna o kā mākou mau berita aie 2, a hāʻawi kēia iā mākou i ka maʻalahi e holo i kā mākou ʻoihana.Ma waho aʻe o ka hoʻokele ikaika ʻana i kā mākou mau ʻaiʻē a me ka wai, aia kā mākou mau hoʻolālā penikala i kahi kūlana ikaika.E like me kā Steve i ʻōlelo ai, ʻoi aku ka nui o kā mākou hoʻolālā penikala hoʻonaʻauao US, a ʻo kā mākou hāʻawi kālā kālā honua i kā mākou hoʻolālā kūpono i ka fiscal 2020 he $10 miliona wale nō.
Ke neʻe nei i ka Slide 13. Ke hoʻihoʻi nei mākou i kā mākou alakaʻi makahiki piha ma muli o ke kaiapuni hoʻokele waiwai paʻakikī e pili ana me COVID 19. ʻOiai ʻaʻole mākou e hāʻawi i ke alakaʻi no Q3, hiki i nā ʻano hou ke kumu i ka emi ʻana o ke kūʻai aku a me ka loaʻa kālā.Ua hōʻike ʻo Steve i ka loli ʻana o ka noi ma waena o ka nui o kā mākou mau mākeke hopena, e hoʻopilikia maikaʻi ʻole i nā leo i nā ʻāpana kikoʻī o kā mākou ʻoihana.
Ma waho aʻe o ka manaʻo o ka leo maopopo ʻole, e hōʻike ana nā hopena Q3 i ka kahe ʻana o ka hōʻemi i paʻi ʻia no ka linerboard ma Ianuali a me nā hōʻemi o Pepeluali no ka SBS a me nā māka pahu pahu hana hou.A ʻoiai ke emi nei kekahi mau kumukūʻai hoʻokomo, ua piʻi aʻe nā kumukūʻai fiber recycled ma mua o $50 no ke tona mai Dekemaba.Ke kūpaʻa nei nā kūlana a loaʻa iā mākou ka ʻike nui i nā ʻano koi e hiki mai ana, e hoʻihoʻi mākou i kā mākou alakaʻi.
Ke hana nei mākou i kekahi mau hana koʻikoʻi a mākou e manaʻo ai e hāʻawi i $ 1 biliona kālā hou i loaʻa no ka hōʻemi ʻana i ka aie a hiki i ka hopena o ke kālā 2021. e uku ʻia ma Kekemapa o 2021 a me Kekemapa o 2022.
Hoʻolālā mākou e hana i kā mākou uku hoʻoikaika 2020 a me nā haʻawina 401 (k) i ka makahiki 2020 me WestRock stock maʻamau e hoʻonui i kā mākou kālā kālā ma kahi o $ 100 miliona.Ke hōʻemi nei mākou i kā mākou hoʻopukapuka kālā ma kahi o $ 950 miliona i ka fiscal 2020 a ke manaʻo nei mākou i kahi ākea o $ 600 miliona a i $ 800 miliona i ka fiscal 2021, mai lalo o kā mākou alakaʻi mua o $ 1.1 biliona i ka fiscal 2020 a me $ 900 miliona a i $ 1 biliona i ka fiscal 2021.
E hoʻopau mākou i kā mākou mau papahana hoʻolālā ma nā hale wili o Florence a me Tres Barras i nā mahina he 12 e hiki mai ana.A ʻoiai mākou e hoʻokele i ka hopena o ka puʻuhonua ma nā wahi palena a me ka loaʻa ʻana o nā ʻaelike a me nā kumuwaiwai ʻenehana ma muli o COVID-19, manaʻo mākou e hoʻomaka i ka mīkini pepa Florence hou i ka hapa lua o ka makahiki kalena. 2020. Pono e hoʻopau ʻia ka papahana Tres Barras mill i ka Q2 o ke kālā '21.
Ma kēia mau pae hoʻopukapuka kālā, ke hilinaʻi nei mākou e hoʻomau mākou i ka hoʻokomo ʻana i nā papahana palekana kūpono, kaiapuni a me ka mālama ʻana a hoʻopau i kā mākou mau papahana wili hoʻolālā ʻoiai e hana pū ana i nā hoʻopukapuka e kākoʻo i ka huahana a me ka ulu ʻana i kā mākou ʻoihana.Hāʻawi kēia mau hōʻemi i $300 miliona a i $500 miliona o ke kālā hou i loaʻa no ka hōʻemi ʻana i ka aie a hiki i ka hopena o ke kālā 2021.
ʻO ka hoʻihoʻi hou ʻana i kā mākou ʻāpana makahiki mai $1.86 no kēlā me kēia ʻāpana a i $0.80 no kēlā me kēia mahele e hoʻonui i $400 miliona i ke kahe kālā i nā makahiki 1.5 e hiki mai ana.Ke hoʻololi nei mākou i kā mākou mau hana a me nā hoʻopukapuka i nā pae o ka koi o nā mea kūʻai aku, e hoʻomau mākou i ka hoʻopukapuka kālā manuahi ikaika, pale i kā mākou waihona kālā a loaʻa ka maʻalahi kālā e hoʻokō i kā mākou hoʻolālā.
Mahalo, Ward.E kūʻē i kēia ʻano o ka maʻi maʻi, mahalo i ka hana koʻikoʻi o ka hui WestRock, ua kākoʻo mākou i kā mākou mea kūʻai aku me kahi kōpili kūʻokoʻa o nā huahana a me nā hoʻonā a me ka pae honua e pono ai lākou e lawe i kā lākou huahana i nā mea kūʻai aku e pono ai lākou.Ke hoʻokō nei mākou i kā mākou hoʻolālā ʻokoʻa, a ke hana nei mākou mai kahi kūlana o ka ikaika kālā a me ka waiwai nui.
Ke kū nei mākou i nā manawa like ʻole, a ʻaʻole maopopo ka ʻike i ka wā kokoke.Hoʻololi mākou a hoʻokō i kā mākou hoʻolālā i ka pane.ʻO ka papahana hana maʻi maʻi a WestRock e hiki ai iā mākou ke pane koke i nā loli i nā kūlana mākeke ke hoʻohālikelike mākou i kā mākou lako i ka noi mākeke.Manaʻo mākou e hoʻoikaika hou kēia mau hana a me nā hana ʻē aʻe i kā mākou kūlana kālā ma o ka hāʻawi ʻana i $1 biliona kālā i loaʻa no ka hōʻemi ʻana i ka ʻaiʻē a hiki i ka hopena o ke kālā '21.
Ke hilinaʻi nei mākou a pau ma WestRock i kā mākou manaʻo waiwai, loaʻa iā mākou ka hoʻolālā ʻokoʻa kūpono, ka hui kūpono i kahi e hoʻokele ai i kēia kaiapuni a e puka i kahi ʻoihana ʻoi aku ka ikaika.
Mahalo iā ʻoe, Steve.I mea hoʻomanaʻo i ko mākou anaina, e hāʻawi i nā mea āpau e nīnau i kahi nīnau, e ʻoluʻolu e kaupalena i kāu nīnau i ka 1 me ka hahai ʻana e like me ka mea e pono ai.E hele mākou i ka nui o ka manawa.Operator, hiki iā mākou ke lawe i kā mākou nīnau mua?
ʻO George Leon Staphos, BofA Merrill Lynch, Māhele Noʻonoʻo - MD a me Co-Sector Head i Equity Research [2]
Mahalo no nā kikoʻī āpau a me nā mea a pau āu e hana nei ma COVID.Manaʻo wau ʻo ka nīnau mua aʻu e pili ana i ka pehea e hoʻomau ai ʻoe i ka hoʻokele ʻana i ka waihona o nā ʻoihana i ka wā e hele ana i mua.ʻO Steve lāua ʻo Ward, ua like ia me -- a ua ʻōlelo ʻoe, aia ka nui o ka hoʻololi ʻana i nā mea āu e ʻike nei ma ke ʻano o nā ʻano koi.He mea paʻakikī ke haʻi i ka mea pili honua, he aha ka mea hoʻokahi.He kūpono paha ka ʻōlelo ʻana inā hoʻoholo ʻoe i kēlā, aia nā hana hou e hoʻomaikaʻi i nā hana, ka ʻoihana, ke kōpili.A lohe wale nō paha mākou i ka mea a mākou i makemake ai e lohe, akā, me he mea lā he hana hou aʻe paha ka mea kūʻai aku i ka wā e loiloi ai ʻoe i kēia ma muli o nā pilikia o ka paʻi mua a me ka paka.No laila inā hiki iā ʻoe ke kamaʻilio me kēlā, a ua loaʻa iaʻu kahi hahai.
ʻO George, ʻo Steve kēia.Manaʻo wau ua pane ʻoe i ka nīnau no ka mea manaʻo wau e nānā mākou i nā mea e hana nei ma ka mākeke, a ke manaʻo nei mākou e loaʻa nā loli i ka manawa.ʻAʻole hiki iaʻu ke wānana i nā mea e hiki mai ana.ʻAʻole hiki iaʻu ke wānana e nānā mākou i kā mākou ʻōnaehana a hoʻohana i kā mākou ʻōnaehana a me kā mākou kōpili i ke ala e hoʻonui ai i ka holoʻokoʻa.A ke ʻae aku nei au iā ʻoe ua loaʻa iā mākou -- e ʻōlelo wau i kāu mea i ʻōlelo ai e pili ana i ka mea kūʻai aku, manaʻo wau he hana hou aʻe kā mākou e hana ai ma luna o ka mea kūʻai aku, ʻae wau i kēlā, no nā kumu āu e...
ʻO George Leon Staphos, BofA Merrill Lynch, Māhele Noʻonoʻo - MD a me Co-Sector Head i Equity Research [4]
Hiki nō.A laila e like me ka loaʻa ʻana o ka mahele, maopopo, he hoʻoholo koʻikoʻi.Hāʻawi ʻia ka leverage ma kahi liʻiliʻi ma luna o 3x, hāʻawi ʻia i ka headroom berita āu i ʻōlelo ai he mea koʻikoʻi a me nā hana ʻē aʻe āu i hana ai e hoʻomaikaʻi i ka liquidity, aia kekahi mea i hāʻawi iā ʻoe i ka hoʻomaha a no laila, e hoʻokaʻawale i ka ʻāpana?No ka mea me he mea lā ua loaʻa iā ʻoe kahi wahi e hoʻomau ai i ka uku ʻana i ka ʻāpana.He aha ka mea e hopohopo nui nei iā ʻoe i kēia manawa e pili ana i ka mālama ʻana i ka pae ma mua?Ua mahalo mākou i ka hoʻoholo a mahalo wau i ke kala.
ʻAe.E George, mahalo no ka nīnau ʻana i ka nīnau no ka mea ʻaʻole kēia he pilikia waiwai.A manaʻo wau ua ʻike ʻoe i ka mea 1.Inā he 1 mea e pili ana iā mākou a pau, ʻaʻohe mea i hea mākou, ʻo ia ka manaʻo ʻole o ka mea e hiki mai ana e pili ana i nā kūlana mākeke.A manaʻo wale mākou ʻoi aku ka maikaʻi no mākou e hoʻāʻo e puka i mua o kēlā a e hōʻoia i kā mākou mākaukau maikaʻi e hoʻoponopono i ka maopopo ʻole i loaʻa iā mākou i ka hoʻokele waiwai a me nā kūlana mākeke e hiki mai ana.
A ʻo kēia mau hana, a ke nānā nei au ʻaʻole -- no ka mea, ʻo 1 wale nō ka mahele o nā mea a mākou e hana ai.E nānā au i ka pūʻulu holoʻokoʻa o nā hana a mākou e hana nei e ʻae iā mākou e hoʻokele i ka maopopo ʻole a mākou e alo nei.
ʻO George Leon Staphos, BofA Merrill Lynch, Māhele Noʻonoʻo - MD a me Co-Sector Head i Equity Research [6]
No laila, ʻo kahi ʻāpana o ia mea hiki ke lilo i ke kapikala āu e koi ai i ka wā e hoʻonui hou ai ʻoe i ke kōpili i ka manawa, kūpono paha ia?
ʻO George Leon Staphos, BofA Merrill Lynch, Māhele Noʻonoʻo - MD a me Co-Sector Head i Equity Research [8]
No laila ke mālama nei ʻoe i kahi pauka, maopopo, hāʻawi ʻia i nā neʻe hou aʻe āu e pono ai e hana i loko o ka waihona e hoʻomaikaʻi i nā hana.ʻO ia ka 1 o nā kumu he mea maikaʻi ke loaʻa kālā hou.He kūpono anei?
ʻAe.Ke nānā wale nei au iā ia ma ke ʻano holoʻokoʻa, he kūlana ʻike ʻole loa ia, a ke manaʻo nei au he kūpono loa nā hana āpau a mākou e hana nei no mākou e puka i waho ma mua o kahi manawa maopopo ʻole a mākou e hele nei.
ʻO Mark Adam Weintraub, Seaport Global Securities LLC, Māhele Noʻonoʻo - MD & Luna Hoʻonaʻauao Nui [11]
E Steve, makemake wau e hahai i kēlā - ʻo ka pane ma ka nīnau hoʻokaʻawale, no ka mea, manaʻo wau he mea nui ia no nā mea hoʻopukapuka e hoʻomaopopo pono.ʻO koʻu manaʻo, ʻo kou manaʻo ʻo ia -- ʻaʻohe pilikia wai āu e ʻike nei i kēia manawa, akā paha, ke hana nei ʻoe i kēia ma ke ʻano he -- inā wale nō, ʻaʻole ʻoe i manaʻo, akā he conservative wale nō ia. hana e, e like me kāu e ʻōlelo ai, e hele i mua.ʻO ia ke ala e maopopo ai?No ka mea, ke manaʻo nei au he nui ka poʻe e heluhelu maʻalahi a ʻōlelo lākou, wow, pono lākou e hopohopo e pili ana i kā lākou hana kālā, ʻoki wale lākou i kā lākou ʻāpana, a ua kāhāhā nui ka poʻe.
ʻAe.No laila, mahalo wau i kāu nīnau ʻana i kēlā.ʻAʻole kēia he pilikia waiwai.Manaʻo wau e hoʻāʻo pono ana e puka i mua o kahi hanana i ʻike ʻole ʻia.A laila, ke noʻonoʻo nei au e pili ana i ia mea mai ka ʻaoʻao o ka mea kūʻai aku, a ke hoʻopuka nei mākou i ke kālā e hele ai e uku i ka aie, a ke manaʻo nei au e loaʻa ia i ka pōmaikaʻi o nā mea waiwai.No laila, inā he mea kūʻai au, manaʻo wau mahalo wau i kēia no ka mea ʻo ia ka mea e hiki ai iā mākou ke kālā e uku i ka ʻaiʻē, e loaʻa ana i -- e piʻi ana i ka pōmaikaʻi o ka poʻe kuleana a e hoʻonui ai. a hāʻawi iā mākou i kahi manawa lōʻihi i nā mākeke kapena aie, aʻu i manaʻo ai he mea nui loa ia.A he mea nui ka puunaue ma $0.80 a he nui a he mea hoʻokūkū hoʻi i nā mea hoʻopukapuka ʻē aʻe he nui.
ʻO Mark Adam Weintraub, Seaport Global Securities LLC, Māhele Noʻonoʻo - MD & Luna Hoʻonaʻauao Nui [13]
ʻAe.A laila wikiwiki wale nō i ka -- ʻike ʻana he kūlana wai nui.Aia kekahi mau kikoʻī e hiki ai iā ʻoe ke kaʻana like me mākou e pili ana i ke ʻano o ka noi i kēia manawa me kahi i hele ai, he aha kāu mea i manaʻo maikaʻi loa ai no Mei, ma hea ke ʻano o nā mea?
ʻAe, Mark, e ʻae wau iā Jeff e pane i kēlā no ka corrugated a laila ʻo Pat ma hope o kēlā, e pane i kēlā no ka mea kūʻai.No laila ʻo Jeff?
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [15]
Mahalo, Steve.Aloha kakahiaka, Mark.No laila ʻaʻole hiki ke haʻi i ka Mei e ʻōlelo wau ua kūpaʻa kā mākou backlogs i ka pule mua.A e hāʻawi wau i ka wehewehe nui e like me kaʻu e hiki ai i nā puke o ʻApelila, me ka hoʻomaopopo ʻana e ʻimi nei ʻoe i nā kikoʻī ma nā mākeke hopena kikoʻī.ʻAʻole loaʻa iaʻu kēlā ʻike kikoʻī i kēia manawa.A laila e like me kāu i ʻōlelo ai, e pili ana i ka nui o nā mea kanu pani o kā mākou mea kūʻai aku no ka manawa pōkole, ʻo ka volatility i ka ʻaoʻao koi, ʻaʻole paha ia e hōʻike i ka mea a ka hapaha.No laila ua hoʻopau mākou iā ʻApelila ma kahi o 4%.Hoʻomaka mākou i ka mahina me nā backlogs a laila ʻoi aku ka maikaʻi o kēlā me kēia pule.No laila, ua loaʻa iā mākou, e like me kā Steve i ʻōlelo ai, ʻoi aku ma mua o 130 mau mea kūʻai aku i pani a hōʻemi paha i nā loli ma waena o ka ʻoihana, 4 o kā mākou mau mea kūʻai kiʻekiʻe he 10 i loaʻa nā mea kanu he nui i ka hopena o Malaki a hiki i ka hoʻomaka ʻana o ʻApelila.No laila ua ʻike mākou i nā ʻāpana ikaika i kā mākou meaʻai i hoʻoponopono ʻia a me kā mākou ʻoihana protein.ʻO ia ʻo ʻAmelika a me Kanada.A laila iho pū nā ʻoihana a mākou - e lawelawe nei i ka ʻeke lawelawe meaʻai a i ʻole nā ʻoihana lawelawe meaʻai.A laila ʻike mākou i kēia ma nā ʻāpana hoʻohana hope i nāwaliwali e like me kā mākou huahana ʻoihana a me kā mākou hoʻolaha a me ka ʻoihana pepa, ʻo ia ka hapa nui.
ʻO ka ʻoihana a mākou i haʻalele ai a me nā mea kanu pahu a mākou i pani ai, e lilo ia i poʻo.A laila ua haʻalele mākou i kekahi ʻoihana pepa waiwai haʻahaʻa ma kēlā māhele a me ka ʻāpana pepa.No laila, he mea huki ia no ka makahiki kālā e hiki mai ana i ko mākou puka ʻana.Eia hou, inā ʻoe e nānā i nā comps, ua piʻi mākou i ka 1.7% i ʻApelila i ka makahiki i hala.Ua emi ka mākeke ma kahi o 1.4%.Ua piʻi mākou i ka 2.7% i ka hapaha o ka makahiki i hala, a ua pālahalaha ka mākeke.No laila paʻakikī nā comps.
Akā i ka ʻōlelo ʻana, ua hana maikaʻi kā mākou ʻoihana.Ua hoʻohālikelike mākou i kā mākou lako me kā mākou mea kūʻai aku koi.Holo maikaʻi nā mea kanu.He mau kūlana paʻakikī loa ko lākou me nā ʻoihana i piʻi, nā ʻoihana i lalo.Ua hoʻoneʻe mākou i nā ʻoihana a puni nā mea kanu me ka hala ʻole.A ua haʻi ʻo Steve i kā mākou limahana hana me ka wiwo ʻole.A no laila ke hilinaʻi nei mākou i ka wā lōʻihi e hiki iā mākou ke hoʻomau i ka hoʻohui ʻana i kēia ʻoihana a me kā mākou hoʻolālā ʻokoʻa i ke kūʻai ʻana i nā mīkini, hoʻomau mau ke kūʻai aku i nā kiʻi preprint.Ke hilinaʻi nei mākou i ka hiki lōʻihi o mākou e hoʻonui i kēia ʻoihana.
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Mea Hoʻohana Packaging [17]
Nui.Mahalo, Steve, a mahalo, Jeff.A no laila ʻaʻole hiki iaʻu -- e like me Jeff, ʻaʻole hiki iaʻu ke ʻōlelo nui i ka Mei.E hoʻāʻo wau e hāʻawi i kekahi mau kikoʻī no ʻApelila, ʻo ia hoʻi, pehea ia e kūlike me nā ʻōlelo a Steve i wehewehe ai a puni ka hapaha.ʻO ka mea nui, ʻo ka mea a mākou i ʻike ai ma ka hopena o ka hapaha a hiki i ka mahina o Malaki i hoʻomau maoli ʻia a hiki i ʻApelila.Ua ʻike mākou i ka koi ikaika a me ka paʻa i ka meaʻai, ka hapa nui o nā māka lawelawe meaʻai a me nā noi, nā mea inu a me ka mālama olakino.Ke ikaika nei kā mākou backlogs i ʻApelila ma CNK ma 5 mau pule a aia ʻo CRB ma kahi o 3 mau pule.A no laila, hauʻoli mākou -- a manaʻo maikaʻi e pili ana i ka lawelawe meaʻai, ka mea inu a me ka mālama olakino.
Ua loaʻa iā mākou kekahi mau pilikia koʻikoʻi ma ka paʻi pāʻoihana.A no laila paha e lawe au i kekahi manawa a wehewehe wale i kēlā.Ua hele mākou ma kahi o ke kaiāulu i ʻApelila, ma kahi o 50%.ʻO ia ka hapalua o ke kumukūʻai kūʻai i kēlā me kēia lā ma ʻApelila e like me ka mea maʻamau, a ma kahi o ka hapalua o nā mea i loaʻa iā mākou i Pepeluali.ʻO ka hapa nui o ia mea i alakaʻi maoli ʻia e ka hōʻemi ʻana i ka leka uila a me ka hoʻolaha ʻana a me kekahi o ka loaʻa ʻana o nā papahana sheetfed e ikaika mau nei i kēia manawa o ka makahiki, ua kāpae ʻia.A pēlā i hoʻomau ʻia ai i ʻApelila.ʻOiaʻiʻo, e like me kā mākou i kūkākūkā ai, paʻakikī ke haʻi aku i ka mea e hele nei i mua.
A ʻo ia hoʻi, ua loaʻa iā mākou kahi palupalu i ka mahina ʻo Malaki, ʻo ia hoʻi, a ua hoʻomau ʻia a hiki i ʻApelila i ko mākou ʻuhane kiʻekiʻe i hoʻopilikia ʻia e ka duty-free.A i loko o nā mea hoʻonaninani a me ka mālama nani, ʻoi aku ka maikaʻi o kēia mau huahana kiʻekiʻe.A ua manaʻo ʻia kekahi o ia mau huahana he mea pono ʻole, a ʻaʻole holo kā mākou mea kūʻai i kā lākou mau pono.A no laila ʻo ʻApelila, ʻōlelo wau, hoʻomau maoli i nā ʻano a mākou i ʻike ai ma Malaki a Steve i wehewehe ai.
ʻO Mark Adam Weintraub, Seaport Global Securities LLC, Māhele Noʻonoʻo - MD & Luna Hoʻonaʻauao Nui [18]
A inā hiki iaʻu - no laila inā ʻoe e hui pū i kēlā mea i ʻApelila, ka nui o ka nui, pehea paha ke ʻano?Pat?
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Mea Hoʻohana Packaging [19]
Ma ke ano o ka consumer kiko'ī?No laila, ʻōlelo wau he pono e wāwahi ʻia e kēlā me kēia pae.Akā e ʻōlelo wau ua emi ʻo ʻApelila i kēlā me kēia makahiki.ʻAʻole hiki ke hāʻawi i ka helu kikoʻī i kēia manawa no ka mea ʻaʻole hiki ke hoʻomaka me nā kikoʻī, akā i ka haʻahaʻa haʻahaʻa i kēlā me kēia makahiki a me Malaki.A ʻike ʻoe - ʻōlelo ʻo Steve i kāna mau ʻōlelo, ʻoi aku ma kahi o SBS, ma muli o ka hopena o ka mea kanu kalepa a mākou i lawe ai ma kahi o 14,000 tons o ka downtime, downtime waiwai i ka mahina o ʻApelila, e hōʻike ana i kēlā palupalu i loaʻa iā mākou i ka hale kūʻai.
A ʻo Mark, ʻo Ward kēia.E hoʻohui wale wau, e kuhikuhi hou wau i kaʻu mau ʻōlelo i hoʻomākaukau ʻia i ka wā i ʻōlelo ai mākou e hāʻule nā loaʻa a me nā loaʻa kālā.A ma ka maʻamau, ke hele nei mākou i kahi manawa kau i ka hapa lua o ka makahiki kahi e hoʻonui maoli ai nā loaʻa.No laila ke manaʻo nei au ʻo nā ʻōlelo a Jeff lāua ʻo Pat i hāʻawi iā ʻoe i ka mahina e kūlike me kā mākou ʻike i ka hāʻule ʻana no ka hapaha.
No kaʻu nīnau mua, ua noʻonoʻo wau inā hiki iā ʻoe ke kamaʻilio liʻiliʻi e pili ana i ke ʻano o ka nui o ke ʻano o ka piʻi ʻana o kāu fiber, piʻi aʻe kāu fiber recycled, mai ka lalo, aʻu i manaʻo ai aia paha i ka hapaha kālā mua a laila kou hiki. e hoʻopau i kēlā mau hoʻonui.
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [24]
Mark, ʻae.No laila, ua hoʻonui nui mākou i kā mākou fiber.Ua piʻi paha mākou i $50 a i ʻole hoʻokahi tona i kēia manawa.A me -- ke mau nei ke koi no ka fiber recycled, akā ua hoʻokūkū ʻia ka hanauna.No laila e hoʻomaka ana i Malaki, ua ʻike mākou i ka hāʻule ʻana o ka hanauna, ʻo ka hapa nui no ka mea ʻoi aku ka nui o ka ʻoihana.No laila e ikaika mau ana nā hale kūʻai, akā ua palupalu loa ke koena o ka ʻoihana kalepa.A laila ua hoʻololi ʻoe i ke kūʻai pūnaewele.A no laila ʻoi aku ka liʻiliʻi o ka nui o ka OCC i loko o nā kikowaena recycling ma mua o nā hale kūʻai kūʻai a me nā hale kūʻai.No laila ke kumu o ke kaomi ʻana i ka ʻaoʻao.ʻO ka mea a mākou e hana nei e hoʻopau i ka ʻoihana, ke holo nei mākou i ka fiber puʻupaʻa a i ʻole ka fiber recycled e pili ana i ke kumukūʻai ma nā wili a hiki i ko lākou hiki ke hana i kēlā mea e pili ana i ka hoʻohālikelike ʻana i ka ikehu, e pili ana i ko lākou hiki ke pulping, no laila mālama mākou i kēlā kokoke loa e kōkua i ka hoʻopau ʻana i ke kumukūʻai.Hoʻemi mākou - nānā mākou i kā mākou papahana Lean Six Sigma āpau.Ke ho'āʻo nei mākou e hoʻopau i ka hoʻonui ʻana e ka huahana i kēlā me kēia makahiki.A ma muli o ka lōʻihi o ka hele ʻana o ka OCC, e hoʻomau mākou e hoʻāʻo e hoʻopau i nā kumukūʻai āpau hiki iā mākou.
A ke manaʻo nei au i kekahi manawa, inā ʻoe e nānā i hope i 3 mau makahiki i hala aku nei, he $300 miliona headwind he mea paʻakikī loa ke holo.Akā i kēia manawa, ke paʻa nei mākou iā mākou iho me ka hoʻokaʻawale ʻana i kekahi mau kumukūʻai a me ka hoʻohui ʻana i kā mākou - ka hui ʻana o ka fiber, e hoʻonui ana i ka hui ʻana o ka fiber ma muli o ke kumukūʻai i loko o ka ʻōnaehana.A i ka hala ʻana o ka makahiki, e ʻike mākou inā mau kēia piʻi ʻana.Manaʻo wau e mau ana a hiki i Mei, a laila e nānā mākou i ka mea e hiki mai ana.Akā e like me kā mākou i ʻōlelo ai ma mua, paʻakikī loa ke wānana i kekahi mea i kēia manawa ma ka mākeke e pili ana i ke kūlana COVID.
ʻAe.He kōkua kēlā, e Jeff.Ma kahi o Gondi wale nō kaʻu mea e hahai ai a makemake wau e pili ana i ka hoʻomaka ʻana o ka mīkini hou a me ka hopena o kāu mau hoʻokuʻu aku i Mexico.Akā, ke ʻimi nei au inā aia kekahi mea i loko o ka ʻaelike hui e makemake ai ʻoe e hoʻonui i kou kuleana ma Gondi, e ʻōlelo, ma waena o kēia manawa a me ka hopena o ke kālā '21?
Mark, e lawe au i ka nīnau ʻelua.Mark, e lawe wau i ka nīnau ʻelua, a ʻo Jeff, e pane ʻoe i ka nīnau mua.ʻAʻohe mea i loko o ka ʻaelike hui e pono ai mākou e hoʻonui i kā mākou kuleana.No laila paʻa mākou...
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [29]
Ke kū nei ʻo Mekiko i ke ʻano like o ka mākeke mākeke e like me mākou, ʻo Mark.No laila ke haʻahaʻa haʻahaʻa ka hanauna OCC, ke ʻike nei lākou i ka hopena like.No laila ke hoʻolōʻihi nei i ka papahana wili e pili ana i ke kūlana COVID, no laila ke hoʻolōʻihi ʻia nei.A laila, e ʻōlelo wau he nui loa kā lākou mau mākeke hoʻohana hope - loaʻa ka hopena like me kā mākou i kēia manawa ma US.
Mark, e loaʻa iā mākou - e kau mākou i kahi mea ma kā mākou 10-Q e wehewehe i ka pane i ka nīnau ma Gondi.
Anthony James Pettinari, Citigroup Inc, Māhele Noʻonoʻo - VP a me ka Pepa, Packaging & Forest Products Analyst [32]
ʻO ka hahai ʻana i ka nīnau mua iā Jeff, hiki ke helu i ka lōʻihi o ka nui o ka makani nui mai nā mea kanu pahu i pani ʻia?A hiki anei ke hoʻonui i ka nui?A laila, Jeff, manaʻo wau ua hōʻike ʻoe i ka emi ʻana o ka nui o ʻApelila i ka 4% me nā mea kūʻai aku nui e ʻike ana i nā pani ʻana o nā mea kanu.Hiki paha ke hoʻohālikelike i ka hopena o nā pani ʻana, inā he hapa liʻiliʻi o ka emi ʻana a i ʻole ka hapa a i ʻole ka hapa nui o ka emi ʻana?Ke hoʻāʻo wale nei e hoʻomaopopo i ke ʻano o ka ulu kūlohelohe maʻamau.
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui & Pelekikena o Corrugated Packaging [33]
ʻOiaʻiʻo.No laila, ʻo ka ʻāpana mua, ʻo Anthony, ua hoʻomaka ka pani ʻana o ka pahu pahu i Mei o ka makahiki i hala, a ua holo lākou a hiki i Ianuali a hiki i kēia manawa.No laila aia kahi - a ma waena o 0.6% a i kahi helu helu no nā pani.No laila ke hele nei mākou i nā makahiki, e hāʻule ka nui o ia mau mea i ko mākou neʻe ʻana i ka makahiki.A laila ma ʻApelila, manaʻo wau he mea nui nā pani.ʻAʻole i loaʻa iaʻu ka kikoʻī pae pae o kēlā me kēia mākeke hopena.Akā ʻo nā mākeke hope i hoʻohālikelike ʻia i ka lā Malaki i hoʻomau ʻia i loko o ʻApelila.No laila nā pepa hoʻolaha, pepa, ʻoihana, hale kūʻai, lawelawe meaʻai.A laila ua loaʻa iā mākou ka hopena o ka mahiʻai i piʻi, nā ʻāpana e hele i ka lawelawe meaʻai, ʻaʻole paha ka hapalua o kā mākou ʻoihana ag, akā he ʻāpana nui ia, ua emi nui.
Inā ʻoe e nānā i kā mākou mea kūʻai aku he 10 kiʻekiʻe loa he mau mea kūʻai protein nui kāu, loaʻa iā ʻoe kekahi mau huahana mea kūʻai nui, ʻoihana waiwai, nā meaʻai i hoʻoponopono ʻia, ma laila - ʻo ia kahi ʻāpana koʻikoʻi o kekahi o nā poʻo a mākou i kū ai.No laila, ua loaʻa iā mākou, e like me kaʻu i ʻōlelo ai, aia kekahi o ia mau ʻoihana ma luna o 5 mau mea kanu, ʻelua i ka mea kūʻai aku i hōʻailona ʻia, i ka inoa pilikino a laila ka protein, a ʻo Canada a me US no mākou.No laila he mau ʻāpana koʻikoʻi ia o ka hāʻule ʻana.
A laila inā ʻoe e nānā, aia kahi pakuhi ma kā mākou papa ma nā ʻāpana nui, ke nānā ʻoe i ka hāʻawi ʻana ma ka pepa, a hiki iaʻu ke hāʻawi pololei iā ʻoe i ka hapaha o Malaki, ua emi iho ka 6,6% i kēlā me kēia lā.A no laila ke mau nei ke komo ʻana i kēia ʻoihana.A noʻonoʻo ʻoe e pili ana i 3 nui no mākou, ʻo kahi ʻāpana o kā lākou ʻoihana ʻo ka ʻoihana kaʻa, nā ʻāpana kaʻa, pau loa.A laila ʻo ka neʻe ʻana o ka ʻoihana, ka neʻe ʻana i loko o kahi waihona e emi nui pū kekahi.A ʻo ia ka 1 o nā mea kūʻai aku nui loa, ʻo ka Department of Defense, ua hoʻokuʻu lākou i nā neʻe a pau no nā lawelawe a hiki i Iune 1. No laila ʻo ia kekahi ʻāpana o ka headwind.
No laila ma kēlā mau wahi nui, ua iho kēlā mau ʻāpana nui.A ʻo kā mākou ʻāpana Pizza i ikaika a ulu a hiki i ʻApelila.A ʻaʻole loaʻa iaʻu kēlā no ʻApelila.Akā ʻo ka ʻono o nā ʻāpana ke ʻano like e hiki mai ana i ʻApelila.
ʻO Anthony James Pettinari, Citigroup Inc, Māhele Noʻonoʻo - VP a me ka Pepa, Packaging & Forest Products Analyst [34]
ʻAe.He kikoʻī kōkua nui kēlā.A laila he nīnau wale nō, manaʻo wau, no ka corrugated a me ka mea kūʻai aku.Ua ʻike mākou i kekahi mau mokuʻāina e hoʻomaka e hāpai i ka hale i nā kauoha a me ka hoʻomaopopo ʻana he mau lā mua loa ia, ke kahaha wale nei au, i kou kamaʻilio ʻana me kāu mau mea kūʻai aku, inā ma ka lawelawe meaʻai a hale kūʻai paha a i ʻole nā wahi ʻē aʻe o ka ʻoihana, he mea anei kēia. ke ʻano ʻoe e ʻike nei he mea hoʻoikaika kūpono no ka ʻohi ʻana i nā kauoha?A i ʻole he ʻano kala āu e hāʻawi ai ma laila?
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [35]
ʻOiaʻiʻo.E hoʻomaka wau a laila e hoʻohuli iā Pat ma ke ʻano he hoʻomau.ʻAʻole hiki ke haʻi.A e like me kaʻu i ʻōlelo ai, ʻo nā ʻāpana ikaika loa e loaʻa ana ka downtime a me ke poʻo ma muli o ka hopena o COVID ma kā lākou waihona limahana.No laila, ke lana nei ko mākou hoʻomaka ʻana i luna, hoʻomaka mākou e ʻike i kekahi mau ʻano o ka ʻohi ʻana o ka noi, akā ua hiki wawe ka haʻi ʻana i kēia pule mua o Mei.Pat?
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Mea Hoʻohana Packaging [36]
ʻAe.A mahalo, Jeff.A ʻo ka hoʻohui wale ʻana ma ka ʻaoʻao mea kūʻai aku, e ʻae wau i kēlā.Manaʻo wau ʻo -- ʻo ia paha nā wahi ikaika loa i kēia manawa a mākou e ʻike nei e pili ana i ka lawelawe meaʻai a me ke kīʻaha a me nā kīʻaha pā no SBS, kahi mākou e kūʻai aku ai i ka papa SBS mākeke ma laila.No laila -- akā ʻaʻole hiki ke haʻi maoli i ka mea e hiki mai ana ma laila, akā ua nui nā loli.A laila aia ka mea ʻē aʻe i ka paʻi pāʻoihana, aʻu i ʻōlelo ai ma mua, ua ʻike i kekahi mau hāʻule nui.A no laila ke nānā pono nei mākou i kēlā.Akā me ka kānalua ʻole i kēia manawa, ʻaʻole i kakahiaka nui e haʻi maoli inā e wehe ana ka mokuʻāina a i ʻole kekahi o nā hana e pili ana i ka hele ʻana i ka nohona e loaʻa i kahi hopena koʻikoʻi i ka wā kokoke.
ʻO Steve, he nīnau hou aʻe, ma ke ʻano noʻonoʻo a i ʻole ka wā lōʻihi, e pili ana i kāu ʻike ʻana i ka loaʻa.ʻO kekahi o nā hana i hana ʻia i kēia pōʻai hope loa, ʻaʻole lākou e hana maikaʻi loa i ka hāʻule ʻana, MPS me kekahi o nā ʻuhane kiʻekiʻe a me ka paka a me KapStone, ua ʻōlelo ʻoe i kekahi o nā pilikia i ka lanakila.ʻIke loa, ʻoi aku ke kiʻekiʻe o ka leverage, a ua pono mākou e ʻoki i ka ʻāpana.No laila ʻo ka manawa lōʻihi, maopopo, ʻo ia ka mea hana waiwai no ka loaʻa ʻana o WestRock.Akā, ke manaʻo nei ʻoe i ka hele ʻana i mua, malia paha e makaʻala iki mākou a ʻaʻole paha e kiʻekiʻe ke kiʻekiʻe o ka leverage e like me ka wā ma mua a malia paha e lilo ka loaʻa ʻana i kahi noho hope e hōʻemi i ka leverage no ka wā e hiki mai ana. ?
Mahalo no ka nīnau ʻana i ka nīnau, Brian.Manaʻo wau e pili ana i ka hoʻokaʻawale ʻana i ke kapikala, mai hea mākou, manaʻo wau ʻoi aku ka hoʻemi ʻana i ka aie ma mua o ka loaʻa.Akā ke manaʻo nei au i ka wā lōʻihi, hiki iā mākou ke hana i nā loaʻa e hoʻohui i ka waiwai i kā mākou hui.
ʻAe.A laila e pili ana i kēlā, ke hana nei ʻoe i nā hana he nui e hoʻopuka i ke kālā a hoʻomaikaʻi i ka wai.Ma loko wale nō o ka waihona, aia kekahi mau waiwai āu e nānā ai e kūʻai aku a hoʻokuʻu paha e hoʻāʻo a hoʻolōʻihi i kēlā kaʻina hana?A aia kekahi mau kumu kālā ʻē aʻe e hiki ai iā ʻoe ke huki, e like me, e ʻōlelo, mai ke kapena hana?Manaʻo wau i ka wā mua, he poʻo nui loa ia no ka makahiki, akā ua loli nā mea.No laila ke noʻonoʻo nei inā aia kekahi mau ala ʻē aʻe e loaʻa ai ke kālā i ka wā kokoke?
ʻAe.Ke nānā nei mākou i kā mākou ʻoihana -- ʻo kā mākou hana ka hoʻopuka kālā, no laila e nānā mākou i nā koho ʻē aʻe.ʻAʻohe mea kikoʻī ma kā mākou kōpili e kū nei.Manaʻo wau ke nānā nei au iā Ward Dickson lāua ʻo John Stakel a nānā lākou i ke kapikala hana i kēlā me kēia lā.No laila ke nānā nei mākou i nā levers like ʻole - hiki iā mākou ke hana i ke kālā.
ʻO Ioane kēia no Mareko.ʻO ka mua wale nō, hiki iā ʻoe ke kamaʻilio wale ma o ka ʻoihana papa bleached a pehea - e kamaʻilio e pili ana i ka mamao o mākou mai ka loaʻa ʻana o ke kumu kūʻai?A laila he aha ka helu holoʻokoʻa o ka papa bleached ma ka Q1?
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Consumer Packaging [44]
ʻAe.No laila ʻo Pat kēia.No laila e pili ana i ka papa bleached a me SBS kiko'ī, e like me kā Steve i ʻōlelo ai, ua emi iho ka paka a me ka paʻi pāʻoihana, a ke ʻike nei mākou i kekahi mau pilikia kokoke i ka wā e pili ana i ka paʻi pāʻoihana, a me ka lawelawe meaʻai.No laila ua lawe mākou i kahi manawa hoʻokele waiwai maʻamau ma Malaki a me ʻApelila, e hōʻike ana ʻaʻole i kiʻekiʻe ka nui o kā mākou hana e like me ka wā ma mua.
Ke hele mai nei au i kēlā manawa, e ʻōlelo wau ua ikaika loa mākou.A ʻo ia, e like me kāu e manaʻo ai, me SBS, me ka piʻi ʻana o nā helu hana a me nā backlogs ma kahi o 4 mau pule e like me ka maʻamau.Akā ʻo ka mea maopopo, ʻo ka mea a mākou i ʻike ai i kekahi o nā ʻāpana a mākou e komo ai i kēlā hoʻohana ʻana i ka SBS a i ʻole ka papa bleached ma ka laulā, ua ʻike mākou i kēlā mau hoʻololi ʻana i kēlā mau hiʻohiʻona i nā mahina i hala aku nei i hoʻopilikia maoli i nā helu hana.
ʻAe.He kōkua kēlā.A laila e huli pono i MPS.Ua kāhea ʻoe i ka nāwaliwali o ʻEulopa akā he aha nā ʻāpana o ka ʻoihana MPS i nāwaliwali?Aia kekahi mea ma waho o nā ʻuhane kiʻekiʻe?
ʻO Steve wale nō kēia.Manaʻo wau ua kaumaha ko lākou wāwae ma ʻEulopa i Pelekane.No laila ua loaʻa iā lākou - a no laila ke manaʻo nei au he mea paʻakikī ʻo Brexit no lākou.A no laila ke neʻe nei mākou i kēlā hana i ka hikina e like me ka hiki iā mākou ma ʻEulopa.No laila ua hoʻoneʻe mākou i ka ʻoihana i Polani.Manaʻo wau ʻaʻole ʻokoʻa loa nā ʻāpana ma mua o kā mākou ʻike holoʻokoʻa.Ua hana maikaʻi loa ka ʻoihana mālama ola.A ua ʻoi aku ka paʻakikī o ka ʻoihana mea kūʻai aku ma muli o ka mea a Pat i ʻōlelo ai e pili ana i nā hale kūʻai duty-free a ʻo wau wale nō e kapa aku iā ia, ʻo ka ʻoihana pili COVID.
Manaʻo wau ua maikaʻi ʻoe a me kou ʻohana.Makemake ʻoe inā hiki iā ʻoe ke ʻōlelo e pili ana i nā ʻano, ʻo ia hoʻi i ka ʻoihana corrugated ma Brazil.Mahalo wau e hele ana i kahi manawa lohi, akā ʻo ka mea a mākou i heluhelu ai a hiki i ʻApelila a ʻike ʻia a hōʻike i kahi koi ikaika loa ma laila.
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [49]
ʻO Jeff.E lawe au i kēlā.No laila, ʻo Brazil, manaʻo wau ua kūlike ka mea āu i heluhelu ai.Loaʻa iā lākou nā kūʻai kūʻai pahu pahu maikaʻi i kēlā me kēia makahiki, kokoke i 11%.ʻOi aku ka nui o nā hoʻokuʻu aku ma ka ʻāina ʻo ʻAmelika Hema i ʻApelika pū kekahi.Ua piʻi ka nui o 7% no kā mākou ʻoihana Brazil.Ua ʻoi aku ka maikaʻi ma mua o ka mākeke, akā ua ulu aʻe i ka 6-plus pakeneka.Ke hele maikaʻi nei ka piʻi ʻana o Porto Feliz.Ke hoʻomau nei lākou i ka ulu ʻana i ka ʻoihana.Ke hoʻopaʻa nei lākou i nā moʻolelo ma kā lākou corrugators hou a me nā EVOL a ke hoʻomau nei ka piʻi ʻana i ka maikaʻi loa.
Ke ʻike nei mākou i kekahi mau poʻo mai ka maʻi COVID, akā ʻaʻole ia i ka nui a hiki i kēia lā e like me kā mākou i ʻike ai ma aneʻi.Eia kekahi, aia ka papahana Tres Barras ma ke ala a hoʻomaka e hoʻomaka, e like me ka Ward i ʻōlelo ai ma mua, i ka hapa mua o ka kalena 2021. Ua lawe mākou i kahi lohi pōkole, he 10 mau lā lohi, ma muli o kekahi mau hana aupuni, ua demobilized, akā, ua hoʻi hou a holo a ma ke ala.No laila e hoʻomau maikaʻi ana kēlā ʻoihana holoʻokoʻa, a ke hoʻomau nei kā lākou mau mākeke i kēia manawa.
A ʻo ka nīnau aʻe, manaʻo wau, ma ka pulp.Ua ʻōlelo ʻoe he $20 miliona headwind, manaʻo wau, i ka hapa makahiki mua.Aia kekahi mau hoʻolaha kumukūʻai a mākou i ʻike ai.ʻIke wale mai kahi ʻano manawa, pehea mākou e ʻike ai i kēlā māhele i loko, ʻoi aku ka nui o ka pōmaikaʻi kālā 2021?A i ʻole inā ʻoi aku ka wikiwiki no ka mea kūʻai aku ʻoe i ka mākeke kiko?
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Mea Hoʻohana Packaging [51]
ʻAe.No laila paha e lawe wau i kēlā no ka mea aia i loko o ka ʻāpana mea kūʻai aku.A no laila, ʻo ka hapa nui o ka pulp a mākou e hana ai aia i loko o kā mākou ʻōnaehana SBS ke kaupaona nei mākou - e hoʻohālikelike i kēlā ʻōnaehana me kekahi manawa wehe.Ua hoʻonui ʻia ka -- o kā mākou pulp volume i kēia manawa, e like me kāu e ʻike ai ma kekahi o nā mea hoʻohui a mākou i paʻi ai.A e like me kou ʻike, ua emi nā kumukūʻai, ua emi nā kumukūʻai i paʻi ʻia i ka pulp.No laila he hopena koʻikoʻi ia iā mākou ma ka ʻāpana.E like me ka mea e hiki mai ana ma 2021 a i ʻole, paʻakikī loa iā mākou e hana me nā mea maopopo ʻole a pau, ʻaʻole hiki iā mākou ke hana i kēlā.Akā me - ʻoiaʻiʻo, ʻo Malaki a me ʻApelila a hoʻi i hope no kēia makahiki kālā i kēia makahiki, he hopena koʻikoʻi loa ia, no laila ke alakaʻi maoli ʻia nei e nā kumu kūʻai i kēlā mākeke e like me ka mea i paʻi mua ʻia.
ʻO koʻu manaʻo, ʻo Gabe, no mākou, he wahi liʻiliʻi ia o ka ʻoihana, e like me kou ʻike.Akā ma ka sequentially, ua ʻike mākou i kekahi neʻe piʻi i luna o kā mākou kumukūʻai.Ke hāʻule mau nei i kēlā me kēia makahiki.Akā i ka hapaha hope i kēia hapaha, ua ʻike mākou i ka piʻi ʻana o ka pulp.
No laila e hoʻi koke i ka hoʻokaʻawale kālā.Hoʻomaopopo mākou i kāu mea i hana ai me ka māhele a me ke kumu.Hiki iā ʻoe ke hoʻomanaʻo iā mākou inā loaʻa iā ʻoe kahi lakio uku kikoʻī?A ma kahi nīnau pili, ʻaʻole ʻoe i haʻi i kekahi mea kikoʻī ma ka repo.ʻIke mākou e hoʻohana ana ʻoe i ke kumukūʻai no ke kālā ʻana i nā mea hoʻoikaika.Akā hiki iā ʻoe ke hoʻomanaʻo iā mākou i ka nui o ka loaʻa iā ʻoe ma ka repo?
Loaʻa iā mākou ma kahi o 20 miliona mau ʻāpana, a ʻaʻole mākou i kūʻai hou i nā ʻāpana i kekahi manawa no ka mea ua maopopo loa mākou ʻo ka hoʻemi ʻana i ka ʻaiʻē ka mea nui o kā mākou hoʻokaʻawale kālā.
ʻO Patrick Edward Lindner, WestRock Company - Luna Hoʻokele Nui a me ka Pelekikena o ka Consumer Packaging [59]
ʻAe.ʻAe.ʻO ka puʻunaue, e haʻi aku wau iā ʻoe, ua hoʻohana nui mākou i ka manawa e noʻonoʻo ai i ka pae kūpono.A he paʻakikī ke kuhikuhi i kahi lakio uku uku.Nānā au i ka $0.80, he $200 miliona.Hiki iā mākou ke hoʻonui i $ 200 miliona a pono e hoʻihoʻi i $ 200 miliona i kā mākou poʻe kuleana a ma lalo o kekahi ʻano i hiki iā mākou ke noʻonoʻo.A e like me kā mākou i ʻōlelo ai i nā ʻōlelo i hoʻomākaukau ʻia, e nānā mākou i ka hoʻonui ʻana i ka ʻike ʻana o nā mea.A no laila, ke manaʻo nei au, he paʻakikī ke kamaʻilio e pili ana i kahi lakio uku uku ma kēia kaiapuni.
Loaʻa ia.A laila ʻo kaʻu nīnau ʻelua, ʻo 1 o nā kīʻaha huna no WestRock, ma ka liʻiliʻi loa i koʻu manaʻo, ʻo ia nā hoʻonohonoho mīkini i loaʻa iā ʻoe i nā hale o kāu mea kūʻai aku.No laila, ʻoi aku ka paʻakikī o ka lawelawe ʻana i kēlā mau mīkini?A i ʻole ke kau ʻia lākou, aia i ka mea kūʻai ke mālama i nā mīkini?
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [61]
ʻO Jeff kēia.No laila ua ʻoi aku ka paʻakikī o ka ʻike COVID e hana i kēlā.Akā ʻaʻole, ke hoʻouna nei mākou i nā kikokikona me nā pahu PPE, nā uhi maka, nā mīkina lima.Kūkākūkā mākou i kā mākou mea kūʻai aku i kā lākou mau koi i ka mea kanu a laila kā mākou mau koi.No laila, loaʻa iā mākou nā ʻaelike lawelawe maʻamau a mākou e hoʻokō nei a laila kekahi mau pilikia e pono ai nā mea kūʻai aku iā mākou.No laila ʻo ia ʻāpana o ka ʻoihana e hoʻomau mākou i ka neʻe ʻana i nā poʻe ma o ka palekana.Ua lanakila nui mākou i ka hana ʻana i kēlā.A ua hoʻomau kā mākou kūʻai ʻana i kēlā - i kā mākou ʻoihana mīkini.E like me kā Steve i hōʻike mua ai, ua piʻi mākou ma luna o $300 miliona i nā mahina he 12 i hala.ʻO ka hoihoi, ke hoʻomau nei ka ulu ʻana, a ke hoʻomau nei mākou i ka ulu ʻana i ka ʻoihana ma ia mākeke a lawelawe i kēlā mau mākeke.
ʻO Adam Jesse Josephson, KeyBanc Capital Markets Inc., Māhele Noʻonoʻo - Luna Hoʻokele a me ka Luna Hoʻokele Kūʻai Kūʻai Nui [63]
Jeff, e hoʻi hou ana i kāu ʻōlelo ʻōlelo ʻApelila no kahi manawa.Makemake au e nīnau i ʻelua mau mea.No laila, manaʻo wau ua ʻōlelo ʻoe ua hāʻule nā hoʻouna ʻana a ua hōʻole ka backlog i ka wā o ka mahina no kēlā kumu.Hiki iā ʻoe ke hāʻawi mai iā mākou i ke ʻano o ka hoʻohālikelike ʻana o kāu pahu pahu pahu pahu i kēia manawa i ka hoʻomaka ʻana o ʻApelila, e koho wale i kahi lā?A laila ma ka ʻāpana e-commerce, no ka mea ʻoi aku ka ikaika o ka e-commerce ma mua o ka lawelawe ʻana i ka meaʻai, ua ʻike paha ʻoe i ke ʻano o ka hopena o ka ulu ʻana o ka e-commerce a hiki i ke ʻano o ka hoʻololi ʻana i ka meaʻai nalowale. ʻoihana lawelawe?
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [64]
ʻAe, no laila e hoʻomaka wau me ka hapa hope.ʻO ka ʻoihana e-comm ke piʻi nei i nā helu pālua ikaika, a ke koe nei.A loaʻa iā ʻoe ka ulu nui ma ka pūnaewele a kūʻai pū aku ma ka pūnaewele a ʻohi i loko o ka hale kūʻai, ʻo ia ka ʻāpana wikiwiki loa i ka e-comm space mai Malaki a ʻApelila.E pili ana i ka lawelawe meaʻai a me ka offset, paʻakikī ka ʻōlelo ʻana ma ke ʻano he pākēneka no ka mea he nui nā ʻoihana like ʻole e hoʻolako i ka lawelawe meaʻai, ka waiu, ka palaoa, ka mahiʻai.No laila paʻakikī ke haʻi i ke ʻano o ka offset ma ke ʻano he nui pololei.
A hiki i nā backlogs, nānā mākou i nā backlogs i loko o ka ʻōnaehana pahu.A no laila mākou - he 5 a 10 mau lā backlog.A e like me kaʻu i ʻōlelo ai, i ka hiki ʻana mai i Mei, ua hoʻopaʻa ʻia mai ʻApelila a me kahi mea i ʻike ʻia mai ka mea a mākou i ʻike ai i ka lua a me ke kolu o ka pule o ʻApelila, akā ua hiki wawe ka haʻi ʻana inā he ʻano ia a ʻaʻole paha i kēia manawa no ka ka volatility i kā mākou mau mākeke.
ʻO Adam Jesse Josephson, KeyBanc Capital Markets Inc., Māhele Noʻonoʻo - Luna Hoʻokele a me ka Luna Hoʻokele Kūʻai Kūʻai Nui [65]
ʻAe.Mahalo wau.A ʻo 1 wale nō 1 ma ka e-commerce, ʻo ia hoʻi, i loko o nā makahiki 3 i hala iho nei, he mea ulu ikaika ia, kahi ulu pālua-helu, i ia manawa, ua piʻi ka makemake pahu mai ka ulu ʻana ma 3% hoʻi i ka '17 a hiki i ka pālahalaha. lining i ka makahiki i hala.No laila ke noʻonoʻo nei au i ka hopena āu e manaʻo ai e ulu ana ka e-commerce ma ka mākeke holoʻokoʻa i ka wā e ʻike ʻia ana he ikaika loa ka e-commerce, akā ua pālahalaha ka makemake pahu i nā makahiki i hala?
ʻO Jeffrey Wayne Chalovich, WestRock Company - Luna Kūʻai Nui a me Pelekikena o Corrugated Packaging [66]
Manaʻo wau ʻo ia wale nō - ua hoʻokumu ʻia ma ka pākēneka o ka e-commerce i kēia manawa o ka mākeke pahu holoʻokoʻa, ʻo Adam.No laila, inā ʻoe e nānā i ka huina, inā he 10% a 12%, manaʻo wau he hana wale nō ia o ka huina ma ka e-comm.A laila loaʻa iā ʻoe nā mea pani, loaʻa iā ʻoe ka liʻiliʻi liʻiliʻi, loaʻa iā ʻoe ke kau inoa, nui nā mea ʻē aʻe e komo i loko o kēlā.Akā, ke manaʻo nei au inā ʻoe e nānā i hope i ka ulu lōʻihi, ulu ʻole ka lōʻihi, kēlā mau mea, ua hoʻohālikelike ʻia kekahi o nā mea ʻole.A i kēia kaiapuni, ʻoi aku ka paʻakikī ma muli o ka ʻoihana.Akā maikaʻi loa ko mākou hiki ke ulu i nā ʻāpana i nā makahiki 3 i hala.A no kā mākou ʻoihana, manaʻo wau hiki iā mākou ke hoʻomau i ka ulu ʻana i nā mākeke, i hāʻawi ʻia i ka manawa pōkole o COVID ma aneʻi, me ka manaʻolana, i ka wā lōʻihi, e hoʻomau mākou e ulu a lanakila i kā mākou mākeke.
Mahalo iā ʻoe, e ka mea hoʻokele, a mahalo i ko mākou anaina no ke komo ʻana i kēia lā kelepona.E like me nā manawa mau, e kelepona mai iā mākou inā he nīnau kāu, hauʻoli mau mākou e kōkua.Mahalo, a hauʻoli ka lā.
Ka manawa hoʻouna: Mei-11-2020